2108 NW 117th St · Oklahoma City, OK 73120

$179,500

2 bd · 2.0 ba · 1,454 sqft · Townhouse public records · 49 Days on market

Built 1980 $123/sqft · at area comps Est $184k · at est. $3/mo HOA

---

Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +14.4/30.0
• ARV discount +8.6/15.0
• DSCR +4.4/10.0
• Livability +4.0/5.0
• 1% rule +3.0/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled just a short distance away from major shopping, restaurants, sports activities; this LARGE half duplex offers plenty of room for the first time homebuyer or Buyers wanting to downsize. The park is just down the street. HUGE 2bed/2bath/2car garage home with 2024 hot water tank and 2024 HVAC unit PLUS a water softener! FANTASTIC size kitchen has been remodeled with DOUBLE OVENS, spice racks inside pantry, pull out drawers, new Bosch dishwasher, and newer patio doors. Refrigerator, Washer,and Dryer convey to Buyer with acceptable offer. This home is PERFECT for WHATEVER you desire it to be - personal or rental, YOUR choice. Come see this gem for yourself! Buyers to verify schools.

Key facts

• Bosch dishwasher
• Pull out drawers
• Newer patio doors

Tags

• REMODELED KITCHEN
• DOUBLE OVENS
• SPICE RACKS
• PULL OUT DRAWERS
• BOSCH DISHWASHER
• NEWER PATIO DOORS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $180k.

Deal economics

• At list price, monthly cash flow is $36 ($434/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (19.8% below list).
• Recommended offer: $144k (19.8% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.7% in Oklahoma City — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#3 in OK, #1,635 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools F, crime F.
• Oklahoma City (urban): math 7% / reading 10% proficiency, ranked #254 of 270 in OK (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.0%/yr); 333 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 5,365 units permitted in Oklahoma County in 2024 (569 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Oklahoma County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $64k; list at $180k implies a 178% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $144,033 (19.8% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.80% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.86%
• DSCR: 1.04
• GRM: 10.4

CMA / ARV

• ARV (median comp): $184,007
• List price: $179,500
• Delta: -2.45%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2125 NW 118th Ter	0.09mi	3/2.5 (+1)	1,640 (+13%)	15mo	$180,000	$110	55

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.05% rent growth · sell at horizon

5-year hold

• IRR: -15.9%
• Equity multiple: 0.44×
• Total profit: $-28,211
• Equity at exit: $26,764

10-year hold

• IRR: -9.2%
• Equity multiple: 0.46×
• Total profit: $-27,349
• Equity at exit: $15,520

Cash invested: $50,260 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Oklahoma: 83 Strongly Landlord-Friendly · R+20
• County: — inherits STATE
• City: — inherits STATE

5-day notice; strongly landlord-favorable.

Methodology + full state rankings →

ZIP-level market 73120

• Rents YoY: 2.0%
• Active inventory: 333
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,440 high
• Mortgage (P&I): −$941
• Tax from tax record: −$83 /mo · $991/yr
• Insurance: −$75
• HOA: −$3
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $36

Break-even live

Break-even rent $1,395

Max offer price $179,500

Occupancy floor 92%

Sensitivity live

Price	-10% $138	-5% $87	+0% $36	+5% $-15	+10% $-65
Rent	-10% $-78	-5% $-21	+0% $36	+5% $93	+10% $150
Rate	-1.0pp $127	-0.5pp $82	base $36	+0.5pp $-10	+1.0pp $-58

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $44,875
• Closing costs: $5,385
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2126 NW 118th St Oklahoma City, OK	2.0	2.5	1360	$1,445	$1.06	24d	1	0.11mi
2221 NW 117th St Oklahoma City, OK	3.0	2.5	1627	$1,625	$1.00	3d	1	0.13mi
1800 NW 115th St Oklahoma City, OK	1.0–3.0	1.0–2.0	1019	$1,705	$1.67	3d	8	0.38mi
11239 N Pennsylvania Ave Oklahoma City, OK	1.0–2.0	1.0–2.0	850	$1,155	$1.36	4d	30	0.39mi
11308 Bel Air Pl Oklahoma City, OK	3.0	2.0	1590	$1,695	$1.07	44d	1	0.56mi
2529 NW 116th St Oklahoma City, OK	3.0	2.0	1625	$1,650	$1.02	44d	1	0.58mi
2401 NW 122nd St Oklahoma City, OK	1.0–2.0	1.0–2.0	844	$899	$1.06	24d	1	0.65mi
12321 Edison Dr Oklahoma City, OK	3.0	2.0	1491	$1,495	$1.00	44d	1	0.66mi
11007 Greystone Ave Oklahoma City, OK	2.0	2.0	1269	$1,500	$1.18	4d	1	0.72mi
12821 Stratford Dr Oklahoma City, OK	2.0	2.0	1043	$1,078	$1.03	2d	1	0.81mi
11420 University Oklahoma City, OK	3.0	2.0	1216	$1,545	$1.27	44d	1	0.83mi
11409 University Oklahoma City, OK	3.0	2.0	1216	$1,550	$1.27	24d	1	0.83mi
11415 University Oklahoma City, OK	3.0	2.0	1216	$1,545	$1.27	44d	1	0.83mi
12701 N Pennsylvania Ave Oklahoma City, OK	3.0	1.0–2.0	912	$1,358	$1.49	2d	15	0.83mi
11508 University Oklahoma City, OK	3.0	2.0	1216	$1,645	$1.35	4d	1	0.84mi
11411 University Oklahoma City, OK	3.0	2.0	1216	$1,550	$1.27	17d	1	0.84mi
2700 Indian Creek Blvd Oklahoma City, OK	1.0–3.0	1.0–2.0	1261	$1,164	$0.92	3d	5	0.86mi
10905 N Brauer Ave Oklahoma City, OK	3.0	1.5	1424	$1,505	$1.06	44d	1	0.86mi
11220 Burnham Ave Unit 11222 Oklahoma City, OK	3.0	2.0	1350	$1,600	$1.19	24d	1	0.87mi
10904 N Linn Ave Oklahoma City, OK	3.0	2.0	1452	$1,650	$1.14	44d	1	0.88mi
2611 Silvertree Dr Oklahoma City, OK	3.0	2.0	1500	$1,550	$1.03	44d	1	0.88mi
11204 Burnham Ave Oklahoma City, OK	3.0	2.0	1335	$1,545	$1.16	44d	1	0.89mi
1540 NW 126th St Oklahoma City, OK	3.0	2.0	1458	$1,600	$1.10	11d	1	0.91mi
1301 W Hefner Rd Oklahoma City, OK	1.0–2.0	1.0–2.0	898	$1,310	$1.46	2d	14	0.92mi
12509 Heritage Oaks Dr Oklahoma City, OK	2.0	2.0	1141	$1,450	$1.27	44d	1	0.94mi
1413 NW 106th St Oklahoma City, OK	3.0	2.0	1345	$1,495	$1.11	44d	1	0.94mi
2501 Patti Pl Oklahoma City, OK	3.0	2.0	1377	$1,600	$1.16	44d	1	0.94mi
12831 Stratford Dr Oklahoma City, OK	1.0–3.0	1.0–2.0	1122	$2,295	$2.05	2d	22	0.94mi
10517 N McKinley Ave Oklahoma City, OK	3.0	1.5	1219	$1,695	$1.39	4d	1	0.98mi
11417 N May Ave Unit D Oklahoma City, OK	3.0	2.0	1275	$1,345	$1.05	3d	1	0.99mi
11407 N May Ave Oklahoma City, OK	3.0	3.0	1613	$1,450	$0.90	44d	1	1.00mi
1209 W Hefner Rd Oklahoma City, OK	1.0–2.0	1.0–1.5	852	$1,029	$1.21	24d	3	1.01mi
11004 N May Ave Oklahoma City, OK	1.0–2.0	1.0–2.5	1129	$1,170	$1.04	12d	1	1.02mi
11800 N Western Ave Unit 302 Oklahoma City, OK	2.0	2.0	960	$1,006	$1.05	4d	1	1.06mi
11800 N Western Ave Unit 210 Oklahoma City, OK	3.0	2.0	1120	$1,160	$1.04	4d	1	1.06mi
11800 N Western Ave Apt 601 Oklahoma City, OK	2.0	2.0	960	$1,006	$1.05	44d	1	1.06mi
11800 N Western Ave Oklahoma City, OK	3.0	2.0	1120	$1,160	$1.04	44d	1	1.06mi
11800 N Western Ave Apt 205 Oklahoma City, OK	3.0	2.0	1120	$1,100	$0.98	44d	1	1.06mi
11800 N Western Ave Apt 919 Oklahoma City, OK	3.0	2.0	1120	$1,160	$1.04	44d	1	1.06mi
1720 Castle St Oklahoma City, OK	3.0	2.0	1428	$1,800	$1.26	44d	1	1.08mi

HOA detail

• Monthly dues: $3 · $36/yr
• Likely covers: water

Listing history 6 events

1. 2026-06-02
   status $179,500 Pending 49 DOM
2. 2026-06-01
   days on market $179,500 Active 49 DOM
3. 2026-05-31
   days on market $179,500 Active 48 DOM
4. 2026-04-13
   listed $185,000 Active 694-char remark

   Show marketing remark (694 chars)

   Nestled just a short distance away from major shopping, restaurants, sports activities; this LARGE half duplex offers plenty of room for the first time homebuyer or Buyers wanting to downsize. The park is just down the street. HUGE 2bed/2bath/2car garage home with 2024 hot water tank and 2024 HVAC unit PLUS a water softener! FANTASTIC size kitchen has been remodeled with DOUBLE OVENS, spice racks inside pantry, pull out drawers, new Bosch dishwasher, and newer patio doors. Refrigerator, Washer,and Dryer convey to Buyer with acceptable offer. This home is PERFECT for WHATEVER you desire it to be - personal or rental, YOUR choice. Come see this gem for yourself! Buyers to verify schools.

5. 2001-02-08
   soldstatus $64,500
6. 1988-09-01
   soldstatus $79,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast OK · Resets to sale price

• Current annual tax: $991 · $83/mo
• Projected year-2 tax: $1,615 · $135/mo
• Expected delta: +$624/yr (+$52/mo · 63.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥107°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 4% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,284
• − Mortgage interest: −$10,055
• − Property taxes: −$991
• − Insurance: −$898
• − Repairs & maintenance: −$1,383
• − Management: −$1,383
• − HOA: −$36
• − Depreciation: −$5,222
• Taxable loss: −$2,683
• Est. tax savings @ 24.0%: +$644
• After-tax cash flow: $1,078/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Oklahoma City
• NCES district ID: 4022770
• Math proficiency: 7% ▼ -5.00%
• Reading proficiency: 10% ▼ -6.00%
• Median HH income: $35,606
• Composite: 7.0/100
• National rank: #9970
• State rank: #254 of 270 in OK

Livability — Oklahoma City

• Score: 80/100
• State rank: #3
• US rank: #1635

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment C Housing A+ Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Oklahoma City, OK
• County: Oklahoma County · 771,644 people
• City population: 498,656
• Metro: Oklahoma City, OK
• Population (ZIP): 35,559
• Household income: $64,745
• Rent vs Own: 48.3% rent · 51.7% own
• Severe rent burden: 2029.0

Population outlook (Oklahoma County) Hauer SSP2

• Today (2025): 911,875 people
• By 2030: 982,413 · +7.7%
• By 2040: 1,130,468 · +24.0%
• By 2050: 1,288,422 · +41.3%
• By 2075: 1,711,482 · +87.7%
• By 2100: 2,088,448 · +129.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 57% Black 21% Two or more races 11% Hispanic / Latino 7% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 3% Slovak 2% Lithuanian 2%
• Foreign-born: 7% · Canada, China, Jamaica
• Languages at home: 92% English-only · Spanish 4% French/Haitian/Cajun 1% Other Asian/Pacific 1%

Political lean MEDSL · Oklahoma

• 2024 margin: Toss-up / Even · D 48.0% · R 49.7% · Other 2.3%
• 2008→2024 swing: +15.1pp toward D · 2008: -16.8pp · 2024: -1.7pp
• All cycles: 2024: R+1.7 2020: R+1.1 2016: R+10.5 2012: R+16.7 2008: R+16.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -279.69%
• Current HPI: 227.2832
• Rent YoY: ▲ 2.05%
• Metro: Oklahoma City, OK
• State GDP YoY: ▲ 1.55%
• F500 in state: 6

Industry mix (Fortune 500 HQ in OK)

Industry	F500 HQs	Revenue
▸Energy	3	$48B

Price history

+134.2% since first listed

3 events — show timeline

• 2026-04-13 Listed $185,000 MLSOK
• 2001-02-08 Sold (Public Records) $64,500 Public Records
• 1988-09-01 Sold (Public Records) $79,000 Public Records

Property tax history

+0.8%/yr

Latest (2025): $991 · -0.8% YoY. Source: county tax records.